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Making headlines today, The Australian Financial Review has reported that regulators will meet in Sydney today to discuss the new global banking rules.
The new banking rules have been marred by controversy in recent months, with several bankers calling on the Australian Prudential Regulation Authority to water down some of the rules that appear tougher than global norms.
According to the paper, ANZ treasurer Rick Moscati said APRA was more conservative than the rest of the world in areas such as the inclusion of interest rate risk in the bank book and deduction for accrued capital.
He said the Basel III reforms were a good opportunity to get in step with the rest of the world.
Under the new reforms, banks will have to hold enough liquid assets to meet withdrawals in a theoretical 30 day crisis.
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